topic 1099k income from Loan Principal Payments in Retirement tax questions

1099k income from Loan Principal Payments

John280 — Tue, 10 Mar 2026 07:17:11 GMT

I expect to receive a 1099k form from my ACH for personal loan principal payments to me (non-business). This income is a personal loan repayment (principal only) to me and is non-taxable. I will have to report the 1099k as income. How do I subtract this non-taxable income amount?

Re: 1099k income from Loan Principal Payments

Anonymous_ — Thu, 22 Dec 2022 15:11:01 GMT

You can either not report the figure on the 1099-K (which might create a mismatch) or enter the figure as miscellaneous income and then make an offsetting (negative) entry for the same amount.

Re: 1099k income from Loan Principal Payments

NCperson — Fri, 23 Dec 2022 18:32:39 GMT

@Anonymous_ @John280 - IRS just announced a 1 year delay in implementation of the new 1099K rules.

https://www.irs.gov/newsroom/irs-announces-delay-for-implementation-of-600-reporting-threshold-for-third-party-payment-platforms-forms-1099-k

Re: 1099k income from Loan Principal Payments

Critter-3 — Mon, 26 Dec 2022 03:43:12 GMT

However the new reporting will take affect in 2023 so I highly recommend you find a different way to recieve the payments that a 1099-K will not be issued ... doesn't anyone send paper checks anymore ?